Magellan Midstream to repay revolver borrowings via new note offering

By Tali Rackner

Norfolk, Va., Feb. 22 – Magellan Midstream Partners, LP plans to use the proceeds from a $500 million senior note offering to repay borrowings under its revolving credit facilities, if any, and for general partnership purposes, according to a 424B2 filing with the Securities and Exchange Commission.

The revolving credit facility matures on Oct. 27, 2020, and the 364-day revolving credit facility matures Oct. 26, 2016.

As of Feb. 19, there were no borrowings outstanding under either facility.

The energy transportation, storage and distribution company is based in Tulsa, Okla.

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